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Dec 28, 2012
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senate majority leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the beginning of this meeting. $250,000 per year. that income would be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nonstarter in a republican-controlled house. now he is leaving it up to the two leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to include something on the estate tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appears as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. the
senate majority leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the beginning of this meeting. $250,000 per year. that income would be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nonstarter in a republican-controlled house. now he is leaving it up to the two leaders...
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Dec 31, 2012
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do we just wait for harry reid and mitch mcconnell to come up with something? when might we have more of these meetings? reporter: senate leaders will meet tonight. carrie reeder says he is suspendi regular business on the senate floor tomorrow so leadership can work on us. they are working on issues and have been for the last couple of days. at that point, sometime sunday morning, they will have to make a decision as whether they got enough vot for they have come up with something that can actually pass the hous and the senate. if that's the deal and they do reach some kd of skeleton or compromise that they can sell the democrats and republicans in the house and senate, they will begin that process once leadership is signed off. the time from then it's a little bit longer when you consider that the house has a rule that any bill must be posted online, it must be public for three days. the senate has a number of procedural hurdles. the senate is strange. you can get something done in unanimous consent, while, floor, walk off and its past -- or you can deal with
do we just wait for harry reid and mitch mcconnell to come up with something? when might we have more of these meetings? reporter: senate leaders will meet tonight. carrie reeder says he is suspendi regular business on the senate floor tomorrow so leadership can work on us. they are working on issues and have been for the last couple of days. at that point, sometime sunday morning, they will have to make a decision as whether they got enough vot for they have come up with something that can...
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adam: i am watching the live scene, surprising me is that eitheneither mitch mcconnell nor harry reid have gone to the podium to address reporters. i believe the vice president talking to reporters but they wouldn't have had some sort of public statement. is that a sign of trouble or something we should not read into? rich: they're starting for a formal statement just to make sure that what they have got here is something they can believe will pass the senate and can pass the house and congress and get its way to the white house. it is caution right now while there are leadership giving the okay on this deal, still have to make sure you have the votes. that is often what so many people forget about these negotiations. we hear from the president and the speaker, the two leaders ultimately became the vice president and a ignore the leader of the senate, you'v youe got to get the vote. he never specifically know how your caucus is going to react to what you are offering. adam: is there an option to stall this to tie it up? rich: usually at 11:30 p.m. on new year's eve, your colleagues wi
adam: i am watching the live scene, surprising me is that eitheneither mitch mcconnell nor harry reid have gone to the podium to address reporters. i believe the vice president talking to reporters but they wouldn't have had some sort of public statement. is that a sign of trouble or something we should not read into? rich: they're starting for a formal statement just to make sure that what they have got here is something they can believe will pass the senate and can pass the house and congress...
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Dec 27, 2012
12/12
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it is really about senator harry reid and mitch mcconnell? >> to develop the political staring contest democrats say republicans need to move and around rego. the president arrived this morning from hawaii and so with the top democrats and republicans but still no update to report. senate majority leader harry reid said it looks like we're going over a cliff and it is up to the house. >> speaker boner shed call people back to washington today and should not have let them go. they are not here. john boner cared more about his speakership than the financial footing. >> they're now working on a fiscal clear solutions they say the majority leader should talk less and legislate more. also mitch mcconnell says the leader is happy to review with the president what he has in mind but that a majority has not put forward a plan. when they do members will review legislation to make decisions on how fast -- best to proceed. >> it takes time for the house and senate to get something done. if there is a solution agreed to buy political leaders it could tak
it is really about senator harry reid and mitch mcconnell? >> to develop the political staring contest democrats say republicans need to move and around rego. the president arrived this morning from hawaii and so with the top democrats and republicans but still no update to report. senate majority leader harry reid said it looks like we're going over a cliff and it is up to the house. >> speaker boner shed call people back to washington today and should not have let them go. they...
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Dec 31, 2012
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>> mitch mcconnell is chatting with vice president biden. he has been tasked over here to try to find some sort offdeal, some sort of agreement to avoid the fiscal cliff. they have a lot of history together. twenty-three years in the senate together. they have a good working relationship. people call biden the mcconnell whisper around here. they are able to at least talk and get things done. they have been key players in the last negotiation. i have to tell you, dagen, the white house and the vice president office are not telling anything about the talks. harry reid seems to be on the sidelines right now. dagen: the idea of mitch mcconnell in the vice president whispering to one another in each other's ears, just, well, leaves me with no words. [ laughter ] i think i should end it there before i embarrass myself. >> that is okay. the horse whisperer, the mcconnell whisper -- dagen: the dog whisperer on yes, i understand. thank you very much. peter barnes, happy new year. twelve hours to go and no deal inside. david, your reaction to no actio
>> mitch mcconnell is chatting with vice president biden. he has been tasked over here to try to find some sort offdeal, some sort of agreement to avoid the fiscal cliff. they have a lot of history together. twenty-three years in the senate together. they have a good working relationship. people call biden the mcconnell whisper around here. they are able to at least talk and get things done. they have been key players in the last negotiation. i have to tell you, dagen, the white house and...
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mitch mcconnell knows where speaker john boehner is on this issue. they remained in contact throughout these negotiations birdseed can imagine that speaker boehner will come out as possibly as early as tonight with a statement of support. he has yet to get any information on. adam: apparently a spokesperson for the speaker saying that this is all joe biden and mitch mcconnell. no context as whether that's a compliment or insult, but potentially the deal which you have been expressing all day long. you are the one who will wrote just before 9:00 p.m. that a gop aide said that this was all done. just to wrap up with you before before we sign off one more time, no word yet from the vice president, but reporters are waiting for some kind of statement. is that correct? reporter: yes, we are hoping to get a comment as he was going into the meeting. right now he is hoping to get enough democrats to get on board. happening all around the capital or soon will begin happening around the capital. house and senate leadership will try to sell this thing and get t
mitch mcconnell knows where speaker john boehner is on this issue. they remained in contact throughout these negotiations birdseed can imagine that speaker boehner will come out as possibly as early as tonight with a statement of support. he has yet to get any information on. adam: apparently a spokesperson for the speaker saying that this is all joe biden and mitch mcconnell. no context as whether that's a compliment or insult, but potentially the deal which you have been expressing all day...
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Dec 31, 2012
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you heard what senate minority leader mitch mcconnell said earlier today. we have members from both the house and senate on what happens next. i'm adam shapiro, in for melissa francis. on "money" the capital-gains tax in the cross-hairs. the capital-gains tax will spike in the new year. how can investors protect themselves from the coming blow? respect your elders or else. a parents dream, a child's burden. adult children forced to financially support mom and dad and pay regular visits in one major country. we'll tell you where and why they're doing it. even when they say it's not, it is always about money adam: had enough of the fiscal cliff yet? before we go there, let's take a look at the day's market headlines a whipsaw for the session for the markets on their last trading day of the year. signs congress was taking major steps toward a fiscal cliff agreement. the dow closed near session highs, climbing 166 points the dow gained 7.3% for the year. now that sent the fear index or the vix into a tailspin. it nosedived 20% as fiscal cliff optimism swept ove
you heard what senate minority leader mitch mcconnell said earlier today. we have members from both the house and senate on what happens next. i'm adam shapiro, in for melissa francis. on "money" the capital-gains tax in the cross-hairs. the capital-gains tax will spike in the new year. how can investors protect themselves from the coming blow? respect your elders or else. a parents dream, a child's burden. adult children forced to financially support mom and dad and pay regular...
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approval for the senate minority leader mitch mcconnell and democrat at this point if it passes the senate and goes on to the house, hasn't passed the senate yet, so as to go through that. if it goes into the house and republicans aren't on board with this thing, the blame lyrically will fall on them. adam: rich edson, let's wrap this up, it is a new day for you, new year, let's start off on a positive note. you have a happy and healthy new year. i know you will be busy over the next two days of this year. rich: thank you, adam. adam: the senate will vote before 4:00 a.m. this morning on the deal, which will prevent tax increases for most americans and delay the spending cuts for at least two months, but i still should have passed the senate still has to be approved by the house of representatives. there's no scheduled a vote yet in the house of representatives. i am adam shapiro. have a happy, healthy and prosperous new year. gets to the house, tomorrow? and when could the house vote on this. >> assuming speaker boehner brings the senate bill to the house floor for a vote. we don't have c
approval for the senate minority leader mitch mcconnell and democrat at this point if it passes the senate and goes on to the house, hasn't passed the senate yet, so as to go through that. if it goes into the house and republicans aren't on board with this thing, the blame lyrically will fall on them. adam: rich edson, let's wrap this up, it is a new day for you, new year, let's start off on a positive note. you have a happy and healthy new year. i know you will be busy over the next two days...
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senate minority leader mitch mcconnell and vice president biden negotiated details. senators feel if they change it, they are going back on the deal. republicans in the house said they never signed off on the deal, it was between the senate minority leader mitch mcconnell and the vice president and should be able to work its will and change the proposal. diane, as you pointed out they have to get something done through both houses of congress by january 3rd at noon. if not, all these bills and proposals expire and they have to start voting all over again. >> that is all we need, back to the drawing board, right? >> rich. we hear that even though it is called the fiscal cliff or it is nicknamed the fiscal cliff that the effects won't be felt immediately. technically we're already there but i wonder how long, is there any sense on capitol hill when effect will start being felt by the american public? >> well we got guidance from the irs last evening and they're basically telling businesses they don't have to begin withholding at current tax rates, which are tax rates w
senate minority leader mitch mcconnell and vice president biden negotiated details. senators feel if they change it, they are going back on the deal. republicans in the house said they never signed off on the deal, it was between the senate minority leader mitch mcconnell and the vice president and should be able to work its will and change the proposal. diane, as you pointed out they have to get something done through both houses of congress by january 3rd at noon. if not, all these bills and...
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Dec 29, 2012
12/12
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staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part of the discussion. that is significant development for house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate le
staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that...
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Dec 29, 2012
12/12
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staffers and a majority leader harry reid, minority lead mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the fuure. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part of the discussion. that is significant development for house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotied. from her senate leaders will try t
staffers and a majority leader harry reid, minority lead mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the fuure. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework...
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Dec 29, 2012
12/12
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staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leader
staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that...
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Dec 31, 2012
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as a result there was that late phone call asking mitch mcconnell told of. we just heard him on the floor saying that they are going to -- that they were going to wait on that piece and tried to get the tax be stunned. i do have a couple more details of want to share with you that are important. the tax extenders. very important to the business community. i have from an official who was involved in these negotiations learn that the framework would, in fact, extend the research and development tax credit. very important to tech companies and to other companies that do a lot of r&b, extending for one more year. also the provision for special depreciation. 50 percent bonus depreciation would be extended for another year. the president at an event at the white house with working-class middle-class families, urging them to keep up the pressure on the members of congress to get to sequester finish line. >> as the president just said, we are very close to an agreement. we need to protect american families and job creators from this looming tax act. everyone agrees
as a result there was that late phone call asking mitch mcconnell told of. we just heard him on the floor saying that they are going to -- that they were going to wait on that piece and tried to get the tax be stunned. i do have a couple more details of want to share with you that are important. the tax extenders. very important to the business community. i have from an official who was involved in these negotiations learn that the framework would, in fact, extend the research and development...
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Dec 31, 2012
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senator mitch mcconnell saying pretty much the exact same
senator mitch mcconnell saying pretty much the exact same
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mitch mcconnell is trying to sell it to some skeptical democrats. congressional leaders are essentially giving the okay on this, but this is something that has to get through both houses of congress. so what you have here is the vice president trying to relate to concerns of a number of the more liberal democrats who think that the tax threshold is too high for them. but there are other provisions of the one included that are not in there, and they are going to say, fiscal cliff is going to hit soon and this is the best deal we are quite yet. after that comment on the house republicans and house democrats that will need both of them to come up and vote for this thing, to get through on the house. the schedule is still a little murky. we don't know when the senate will vote on this. it will likely go first here in the senate, and then it is up to the house and the pressure is beginning to get signoff on this thing. >> that seems to be the big question. we have the video of the podium which is where we hope to get some kind of statement from someone i
mitch mcconnell is trying to sell it to some skeptical democrats. congressional leaders are essentially giving the okay on this, but this is something that has to get through both houses of congress. so what you have here is the vice president trying to relate to concerns of a number of the more liberal democrats who think that the tax threshold is too high for them. but there are other provisions of the one included that are not in there, and they are going to say, fiscal cliff is going to hit...
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Dec 27, 2012
12/12
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both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply, sir, we appreciate you being here but is harry reid right? are we going off the cliff? >> well, adam i hope he is not right. at this point president obama indicated he is going to call and talk to our leader, mitch mcconnell, senator mcconnell and make a proposal. we're very interested to see what that proposal is. we put revenues on the table. there needs to be some savings. and i believe we can get a deal so let's go. adam: what will the do look like? the president at one point actually upped what he was willing to tax. he wants taxes. originally saying on incomes of 250,000 and up. then he went to 400,000. what kind of compromise do we need from both side to get a deal done so that i don't have to keep boring people wit
both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply, sir, we appreciate you being here but is harry reid right? are we going off the cliff? >> well, adam i hope he is not right....
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Dec 28, 2012
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you have harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or $500,000 or so, extend unemployment insurance, but, still, nothing has been agreed to. all in washington are waiting to see how this meeting goes. it's just about to start here in dc. meanwhile, on capital hill, the fighting continues, and in some corners, a sense of pessimism. >> if we don't have a deal within the next 24 hours, the question is where do you buy a parachute? we'll be going over the cliff because the closer we get to the end, the less likely it is you can compress an agreement into place that will have enough votes to pass. >> this is basically it. the first time in weeks the top democrat, the top republican from the house and senate have gotten together here at the white house with the president and vice preside
you have harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or $500,000 or so, extend unemployment insurance, but, still, nothing has been agreed to. all in washington are waiting to see how this...
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Dec 31, 2012
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. >> well, senator mitch mcconnell , the republican leader in the senate has been negotiating with the vice-president on behalf of the president, mcconnell went to the floor to say that there will be spending cuts down the road here . they had come to agreement on the tax part of this and wanted to get that passed and approved so that hundred million plus american families would not be facing a tax increase on january january 1st. it looks like that they will. we are going to go over the cliff, but congress is going to try to fix that in the next few days. he promised more spending cuts will come. remember, republicans do have the debt ceiling coming to. they have to approve an increase in the debt ceiling, probably by late february or early march, and that will be their leverage, they say. gerri: a perfect storm. thank you for telling his about it, coming on. good luck over this next 44 hours. it will be intense. meanwhile, as a nation we continue to change our way forward work toward another recession. without a deal u.s. gdp expected to take a serious hit. our unemployment rate expe
. >> well, senator mitch mcconnell , the republican leader in the senate has been negotiating with the vice-president on behalf of the president, mcconnell went to the floor to say that there will be spending cuts down the road here . they had come to agreement on the tax part of this and wanted to get that passed and approved so that hundred million plus american families would not be facing a tax increase on january january 1st. it looks like that they will. we are going to go over the...
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Dec 28, 2012
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he is leaving it in the hands of harry reid and mitch mcconnell. can they craft a package that members of speaker boehner's caucus would approve? that is what it is going to take, isn't it? >> it is. and it could be possible, adam. the next 24 hours will let us know. we have a reedout from our colleague ed henry, according to a senior white house official exactly how this meeting went down. this according to a white house official. basically the president said, you know, look if the speaker can not come up with some type of compromise, or republican and democratic leaders can not come up with some kind of compromise, would they put up the president's plan $250,000 below vote in the house, the white house officials said the speaker was noncommittal. the white house officials said that it does not appear that the debt ceiling is part of this. that is a major obstacle for republicans in the house. they said that they wanted for the president a four year plan the debt ceiling. it could help carve the vote. adam: when the president says nobody gets 100%
he is leaving it in the hands of harry reid and mitch mcconnell. can they craft a package that members of speaker boehner's caucus would approve? that is what it is going to take, isn't it? >> it is. and it could be possible, adam. the next 24 hours will let us know. we have a reedout from our colleague ed henry, according to a senior white house official exactly how this meeting went down. this according to a white house official. basically the president said, you know, look if the...
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Dec 31, 2012
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you have senator mitch mcconnell on the republican side saying close, but no deal. leads me to ask, what about joe biden? our vice president? he's the one who kind of brought things together in the early morning hours. >> reporter: he did, and mitch mcconnell called vice president biden, and they were hammering out a deal almost to the point where the senate minority leader said when he woke up this morning he thought they did have a deal, at least on the tax portion. republicans saying they have worked out and reached agreement on the tax issues, the problem are the automatic spending cuts, the $94 billion known oz the sequester throughout 2013. the white house wants to pull back on those cuts, republicans want to replace those cuts with other cuts. first, let's take a look at what they've agreed to. this is the framework on taxes. it exempts income of $400,000 for individuals,450 for families. capital gains and dividends stay the same underneath those amounts, for amounts above that, 20% on those taxes. the alternative minimum tax, the estate tax goes to 40% with
you have senator mitch mcconnell on the republican side saying close, but no deal. leads me to ask, what about joe biden? our vice president? he's the one who kind of brought things together in the early morning hours. >> reporter: he did, and mitch mcconnell called vice president biden, and they were hammering out a deal almost to the point where the senate minority leader said when he woke up this morning he thought they did have a deal, at least on the tax portion. republicans saying...
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Dec 28, 2012
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the deal would be made by mitch mcconnell, he is the deal maker for the house and senate on fiscal issues. he talked last night like he had an offer from the president, that was denied by everybody this morning. my guess is this is for show. if there is a deal you will hear about it at 7:00 or 8:00 this evening as legislation popped onto the clerk's office in the senate hopefully getting up before midnight so they can pass in to order. what they ought to do is take bills the have already been passed by the house, the senate should amend those and pass those to the house today or tomorrow and get the business taken care of. those are pretty good bill that could be amended but we have not seen action from the senate so far. adam: three hundred million americans aged for the law into the potomac. thank you for being with us. bill beach from the heritage foundation. the white house meeting on the fiscal cliff is less than an hour away. we will tell you which companies will be first to get slammed by automatic spending cuts and tax hikes and still ahead a critical weekend for retailers, analys
the deal would be made by mitch mcconnell, he is the deal maker for the house and senate on fiscal issues. he talked last night like he had an offer from the president, that was denied by everybody this morning. my guess is this is for show. if there is a deal you will hear about it at 7:00 or 8:00 this evening as legislation popped onto the clerk's office in the senate hopefully getting up before midnight so they can pass in to order. what they ought to do is take bills the have already been...
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Dec 24, 2012
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mitch mcconnell is critical to hammer out a deal in the senate because he can filibuster anything. his spokesman said "nothing new to report. we do not know yet what senator reed plans to bring to the senate for a vote." >> if you want leaders, then, you have to lead. the president has been a pathetic leader. i would vote for revenues, including tax rate hikes even though i do not like them to save the country from becoming greece. i will not set aside the $1.2 trillion in cuts. >> i know it is hard for republicans. the president ran on a platform. 250. he won 60% of the voters. peter: we will see what senator reid puts on the floor on thursday. we will see if it is something that some of these republicans can vote for, ashley, and see if that can avoid the fiscal cliff. the president and speaker both that they will cut their vacations short and return to washington this week to keep trying to work something out. ashley: i am surprised you got anyone would you made those calls today, peter. time is running out. peter barnes nbc. peter, thank you very much. ashley: a fox business ex
mitch mcconnell is critical to hammer out a deal in the senate because he can filibuster anything. his spokesman said "nothing new to report. we do not know yet what senator reed plans to bring to the senate for a vote." >> if you want leaders, then, you have to lead. the president has been a pathetic leader. i would vote for revenues, including tax rate hikes even though i do not like them to save the country from becoming greece. i will not set aside the $1.2 trillion in cuts....
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mcconnell. the framework of that, the tax portion is a done deal exempting income of $400,000 for individuals, $450,000 for married couples, families from a tax increase. it also puts the capital gains tax keeping it consistent to me to those rates for income above that capital gains tax goes to 20%. presley patches the minimum tax ensuring live we as americans dt have to pay the estate tax goes to 40% on all mounts of $5 million a one-year extension of long-term unemployment benefits as part of this. also what is known as the medicare doctors getting a pay cut every so often, congress goes back and fills it in, this involves that as well. >> is a vic the vice president g to do strong-arming or some dealmaking promises or is he just trying to rally the troops? >> a little bit of all three. the only part that appears to be outstanding at this point is the automatic spending cuts. $94 billion known as the sequester kicking in in 2013 through the entire year. democrats want to push that off. so wan
mcconnell. the framework of that, the tax portion is a done deal exempting income of $400,000 for individuals, $450,000 for married couples, families from a tax increase. it also puts the capital gains tax keeping it consistent to me to those rates for income above that capital gains tax goes to 20%. presley patches the minimum tax ensuring live we as americans dt have to pay the estate tax goes to 40% on all mounts of $5 million a one-year extension of long-term unemployment benefits as part...
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Dec 26, 2012
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senate republican leader mitch mcconnell who can filibuster anything reid proposes, a spokesperson saying, quote, no outream from dems. we are waiting on senate democrats. if nothing's done, january 1st, the nation faces a $5 trillion tax increase over ten years through the expiration of the bush tax cuts and assuming congress does not approve the patch anded medicare doc fix, and other things. the lapse of the tax cuts means the top tax rate reverts to 39.6 from 35% now. taxes would also go up for lower income earners. the maximum low rate would revert to 15% from 10% now, and investors see capital gains rate revert from 20%, revert to 20%, rather from 15% now. depending on what analysis you look at, average families could pay $2,000 to $4,000 more in taxes next year. ashley? ashley: that's the why it's called the cliff. thank you, peter. >> you bet. ashley: the speaker stuck in a storm, but the phones do work. bell ringing soon, and amazon known for customer service, especially over the holidays, but it's not cared over to the web hosting business. merry christmas for hollywood. ticket
senate republican leader mitch mcconnell who can filibuster anything reid proposes, a spokesperson saying, quote, no outream from dems. we are waiting on senate democrats. if nothing's done, january 1st, the nation faces a $5 trillion tax increase over ten years through the expiration of the bush tax cuts and assuming congress does not approve the patch anded medicare doc fix, and other things. the lapse of the tax cuts means the top tax rate reverts to 39.6 from 35% now. taxes would also go up...
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Dec 24, 2012
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mitch mcconnell is critical to hammering out a deal because he can filibuster any legislation, but his spokesman told me this morning nothing new to report. we don't know what senator reid plans to bring to the senate for a vote. >> truth of the matter is if we do fall off the cliff, he will come back, propose just what he proposed yesterday leaving washington, and will end up adopting at the washed up at the market in such turmoil and the lack of confidence, why don't we go ahead and act now. >> most numbers are used to spending the christmas to new year's at home, it is time to go back to the table. if anybody sees these representatives from the house in line shops are getting their christmas turkey wish them a merry christmas, civil and say go back to the table, not her own table, the table in washington. >> so there's a group of senate republicans who would vote for taxes on wealthier taxpayers now to get that done, avoid the cliff, move on and fight for spending cuts when the president asks to raise the debt ceiling in february or march. the president and speaker said it will cut
mitch mcconnell is critical to hammering out a deal because he can filibuster any legislation, but his spokesman told me this morning nothing new to report. we don't know what senator reid plans to bring to the senate for a vote. >> truth of the matter is if we do fall off the cliff, he will come back, propose just what he proposed yesterday leaving washington, and will end up adopting at the washed up at the market in such turmoil and the lack of confidence, why don't we go ahead and act...
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Dec 31, 2012
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there was a report that maybe these talks between mitch mcconnell and vice-president biden were making some progress. on that, up went the futures market to show a gain of 80 points for the dow. we're back to showing a gain of 50 or 70 points. watch for head lines, for leaks, for any sound bites that might appear on any news program anywhere and you will have some kind of market reaction. as we countdown to the end of this fiscal cliff, i'm going to call it a debacle because that's exactly what it is. even if we get a very, very narrow deal, whoop-de-doo, we have a debt ceiling problem and amt taxes, government spending, all of those problems outstanding, nothing done. the dow jones industrial average is not done up for the opening bell, it's down, we're 42 points, 48 points going down as of right now. 50 points lower. what did you give, what did you get for christmas this year? chances are, a computer tablet maybe? according to the latest data from cnet, there were 17.4 million tablet activations on christmas day alone, more than double than last year. look at the two leading tablet m
there was a report that maybe these talks between mitch mcconnell and vice-president biden were making some progress. on that, up went the futures market to show a gain of 80 points for the dow. we're back to showing a gain of 50 or 70 points. watch for head lines, for leaks, for any sound bites that might appear on any news program anywhere and you will have some kind of market reaction. as we countdown to the end of this fiscal cliff, i'm going to call it a debacle because that's exactly what...
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Dec 27, 2012
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mcconnell, the minority leader in the senate and of course harry reid, the majority leader. earlier reports of this story had it john boehner would be on hand, but john boehner is not even in washington, d.c., and a spokesperson told us they haven't been invited. so figure that out. who will follow as it continues to break but right now a meettng with congressional leaders on the fiscal cliff with the president on hand tomorrow, friday, and we will shirk over that. i put different topic. even if you aren't a frequent flyer, my next guest says you can enjoy the perks of being one. like being upgraded to first class and it is not as hard as you think. now, rick, have waited for this segment for the whole show because i wanted that elite status but i don't fly enough to really earn it. so tell me, how can i get that elite status without doing all the work were spending all the money? >> typically the one bad problem with elite status if you have to fly. you don't have to fly very much. we'll give you an example of how my wife achieved elite status in one trip but typically a bi
mcconnell, the minority leader in the senate and of course harry reid, the majority leader. earlier reports of this story had it john boehner would be on hand, but john boehner is not even in washington, d.c., and a spokesperson told us they haven't been invited. so figure that out. who will follow as it continues to break but right now a meettng with congressional leaders on the fiscal cliff with the president on hand tomorrow, friday, and we will shirk over that. i put different topic. even...
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Dec 28, 2012
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also, mitch mcconnell, the minority leader, the president, and harry reid. everyone will be in play, and we will cover that for you. finally, good news for all you hot heads out there. in the study reveals that being hot tempers and expressing anger is good for you. it can add up to two years to your life span. after analyzing six dozen people, researchers from entering university conclude that overtime self restraint and holding back-oceans could cause you to develop serious health publications, high blood pressure, heart disease, kidney damage, and even cancer. bottom line, for the death your health express yourself. if you're angry, let it all out. don't hold the pack. expressing your emotions could be just the key to that enjoyed a long and healthy life. that's my "2 cents more." thanks for joining is. don't forget to record the show if you cannot catch us live. have a great night and will see you tomorrow. ♪ lou: good evening. the pounding, deafening drumbeat for gun control is rising. emanating principally from washington, the present, and members of
also, mitch mcconnell, the minority leader, the president, and harry reid. everyone will be in play, and we will cover that for you. finally, good news for all you hot heads out there. in the study reveals that being hot tempers and expressing anger is good for you. it can add up to two years to your life span. after analyzing six dozen people, researchers from entering university conclude that overtime self restraint and holding back-oceans could cause you to develop serious health...
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mcconnell, there's a feeling if you tinker with it, it opens this whole thing up again. it could really push this deal off quite a significant way. i just spoke to the democrat walking through our shot here, he said i want this basically hold your nose type of vote. it is not everything we want, there is a feeling among democrats in the house, this is what we have got to deal with, bipartisan agreement sailing through the senate earlier this morning and something that should get a vote in the house. that is unclear right now. they're still considering legislation, still considering a path forward and to a number of republicans who want to make changes to this proposal undoing the compromise. cheryl: it seems to come down to the understanding cuts. they reference the fact you have 4 trillion added to the deficit. other republicans at this point would've a strong enough, can i stomach this kind of fight with 48 hours left to go this congress to push this one point, or do they, as you say, hold your nose and just do it? riih: the $4 trillion added to the deficit. congress t
mcconnell, there's a feeling if you tinker with it, it opens this whole thing up again. it could really push this deal off quite a significant way. i just spoke to the democrat walking through our shot here, he said i want this basically hold your nose type of vote. it is not everything we want, there is a feeling among democrats in the house, this is what we have got to deal with, bipartisan agreement sailing through the senate earlier this morning and something that should get a vote in the...
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Dec 31, 2012
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>> everybody has packed up and gone home except for joe biden and mitch mcconnell, they are having multiple conversations and these folks are running point on negotiations, harry reid who was negotiating has left the capital. so those negotiations have died throughout the remainder of today or earlier today. you have the vice president and senate minority leader. the last time they finished the deal the tax deal we got a couple years ago that extended tax rates, cut the social security tax by a couple points. all of that ongoing right now and that is really the last hope we have to get something done before the fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a
>> everybody has packed up and gone home except for joe biden and mitch mcconnell, they are having multiple conversations and these folks are running point on negotiations, harry reid who was negotiating has left the capital. so those negotiations have died throughout the remainder of today or earlier today. you have the vice president and senate minority leader. the last time they finished the deal the tax deal we got a couple years ago that extended tax rates, cut the social security...
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Dec 29, 2012
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the senate majoritleader, harry reid, mitch mcconnell, it is up to them to craft this thing. it is out of his hands for the next couple of days and into the hands of people in the senate. adam: rich edson at the white house. i know that you are going to regroup. gerri willis and "the willis gerri willis and "the willis right now. >> biological attack is possible. >> swine flu panic grips the nation. >> climate change is killing people. >> the media says life is horrible. >> poverty has reached new depths. >> but the media missed the big picture. >> i was only four when i saw my motherlode a washing machine for the first time. >> this is a wonderful word and getting better. his grandmother was thrilled by a washing machine. >> she sat down and watched the entire washing program. >> two, one, fire! >> the machines coming next or better thanks to competition. and they build school cars and space ships. >> entrepreneurs do what only governments did before. >> maybe cities will be built on water flow from big government. >> this is outside the united states jurisdiction. >> life g
the senate majoritleader, harry reid, mitch mcconnell, it is up to them to craft this thing. it is out of his hands for the next couple of days and into the hands of people in the senate. adam: rich edson at the white house. i know that you are going to regroup. gerri willis and "the willis gerri willis and "the willis right now. >> biological attack is possible. >> swine flu panic grips the nation. >> climate change is killing people. >> the media says life is...
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Dec 31, 2012
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mcconnell. a sign of optimism the last time they tried to work out a deal, it was successful. they extended the current tax rates for a couple of years and extended long term unemployment insurance and 2 percentage cut in social security. last time they got together it was successful between the two and now they are leading points on negotiation. >> if we don't get a deal before january 1, the taxes go up pretty high. any idea how much people will be paying? >> i think there is a misconception when you talk about the bush tax cuts which are the current rates we're operating under, it only hits folks at the top of the income scale, bush tax cutting all the way to the bottom, all the way up to the top. pretty much anybody who has an income is going to be paying more in taxes if there is not any type of deal to extend current rates. >> shifting gears, it has to do little with the fiscal cliff. news about the secretary of state, she in the hospital tonight. can you update us on her condition. >> thi
mcconnell. a sign of optimism the last time they tried to work out a deal, it was successful. they extended the current tax rates for a couple of years and extended long term unemployment insurance and 2 percentage cut in social security. last time they got together it was successful between the two and now they are leading points on negotiation. >> if we don't get a deal before january 1, the taxes go up pretty high. any idea how much people will be paying? >> i think there is a...
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Dec 30, 2012
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at the same time, if hrry reid and mitch mcconnell working on it how are you guys going to receive it when it gets over into your chamber? >> probay not well. here's the deal, this all could have been worked out some time ago. august of the end of july, the house-passed tax bill and senate over to the senate. there were free taken up an amended and take it back. that's the way things usually wowork. revenue bills must originate the house of representatives. we get to work six months ago. a work product six there and wait for the senate to take something up. here is what is troubling about all this. we will get through this this week however it turns out or next week, however turns out. you are right about the debt limit. that is going to recess well, and then just after that we have an appropriations lapse. so the first three months of the year you have fiscal cliff, debt limit, and appropriations laps all staring the american people in the face. i get it that people are sick of this combat at the same time it is because we have such an nasa's spending problem is the reason why these
at the same time, if hrry reid and mitch mcconnell working on it how are you guys going to receive it when it gets over into your chamber? >> probay not well. here's the deal, this all could have been worked out some time ago. august of the end of july, the house-passed tax bill and senate over to the senate. there were free taken up an amended and take it back. that's the way things usually wowork. revenue bills must originate the house of representatives. we get to work six months ago....
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Dec 27, 2012
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. >> senate minority leader mitch mcconnell is expected to take the senate floor a few minutes from now. he has been saying his office has been saying throughout the day when senate democrats offer a plan, republicans will review it. so republicans are very much waiting for democrats to offer a new type of fiscal cliff proposal. democrats are saying to republicans in the house, they should just pass that bill that passed the senate earlier this year, one that extends tax rates for families earning less than $250,000 a year. so very much bit of a stalemate going on here in washington as we move ever closer to the deadline. back to you. ashley: my first reaction is, so what's new? >> not much. ashley: at least it is something. but the 31st is well, the very next day. >> right. ashley: if you look past the headlines about the gridlock in washington what do the fundamentals of the economy really look like? are they not that bad? and will 2013 be the year for you to make money? certainly hope so. mark luschini, janney montgomery scott analyst joining me in an fb. in exclusive. mark, thank yo
. >> senate minority leader mitch mcconnell is expected to take the senate floor a few minutes from now. he has been saying his office has been saying throughout the day when senate democrats offer a plan, republicans will review it. so republicans are very much waiting for democrats to offer a new type of fiscal cliff proposal. democrats are saying to republicans in the house, they should just pass that bill that passed the senate earlier this year, one that extends tax rates for...
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Dec 26, 2012
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said republican leader mitch mcconnell, quote, no our reach for many democrats. we talk to the speaker's office all the time and always do but the house passed legislation and we are waiting on senate democrats. house speaker john boehner, quote, nothing new and from democratic leader of the house nancy pelosi, her spokesperson saying, quote, i don't know anything right now. as of now the cliff remains clearly in sight. if nothing is done on january 1st, the nation faces a $5 trillion tax increase over ten years through the expiration of a george bush tax cuts and assuming congress does not approve its annual patch for the alternative minimum tax and medicare doc fix that prevents deep cuts in medicare the laps of the tax cuts would mean the top tax rate would revert back to 39.6 in the clinton administration from 35% now but taxes will also go up for tax rates would go up for lower-income earners. the maximum lowest rate reverting to 15% from 10% and for investors capital gains rates would revert to 20% from 15% and depending on the analysis the average family w
said republican leader mitch mcconnell, quote, no our reach for many democrats. we talk to the speaker's office all the time and always do but the house passed legislation and we are waiting on senate democrats. house speaker john boehner, quote, nothing new and from democratic leader of the house nancy pelosi, her spokesperson saying, quote, i don't know anything right now. as of now the cliff remains clearly in sight. if nothing is done on january 1st, the nation faces a $5 trillion tax...
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Dec 27, 2012
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spokesperson for mitch mcconnell asked the same question and he said it was possible that some senators might be delayed in getting back here. we should point out for example there are two republican senators in maine. shibani: good luck getting home. got some work to do. dennis: it is now up to the senate to come up with a fiscal cliff compromise because the house failed to work out a plan and we are joined by two house members, marcy captor and republican congressman tom mcclintock. thank you for being with us. let's start with you, during the presidential debate, president obama said flatly we are not going to go over the fiscal cliff. it is not going to happen. is that still the case do you think? >> that has been president obama's position and it is my position and the position of the democratic caucus in the house, the position of the democratic caucus in the senate. the problem has been in the house sadly, there's a serious step on the republican side of the aisle and we were unable to reach resolution compromise, to find the scrimmage line and make a compromise to keep the ball
spokesperson for mitch mcconnell asked the same question and he said it was possible that some senators might be delayed in getting back here. we should point out for example there are two republican senators in maine. shibani: good luck getting home. got some work to do. dennis: it is now up to the senate to come up with a fiscal cliff compromise because the house failed to work out a plan and we are joined by two house members, marcy captor and republican congressman tom mcclintock. thank you...
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Dec 26, 2012
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senate republican leader mitch mcconnell who can filibuster anything reid proposes, his spokesperson saying quote, no outreach from any dems. we're waiting on senate dems. so, if nothing is done, that means on january 1st, the nation faces about a five trillion dollar tax increase over 10 years through the expiration of the bush tax cuts and assuming congress does not approve its annual patch for the alternative minimum tax and that medicare doc fix that prevents deep cuts in medicare payments. now the lapse of the tax cuts would mean that the top tax rate would revert back to 39.6 from the clinton administration from 35% now but taxes would also go up for lower income earners. the maximum low rate would revert back to 15% from 10% now. the for investors, capital gains rates would revert to 20% from 15% now. depending on the analysis, the average family would pay 2,000 to 4 thou more in taxes next year. back to you guys. tracy: peter we were talking about the protocol. you sent a great little ted it about. you have to explain it to the viewers. the house makes these rules, three day
senate republican leader mitch mcconnell who can filibuster anything reid proposes, his spokesperson saying quote, no outreach from any dems. we're waiting on senate dems. so, if nothing is done, that means on january 1st, the nation faces about a five trillion dollar tax increase over 10 years through the expiration of the bush tax cuts and assuming congress does not approve its annual patch for the alternative minimum tax and that medicare doc fix that prevents deep cuts in medicare payments....